Tag Archives | Opening Work-in-Progress

Valuation of Opening Work-in-Progress

The following points highlight the two methods of valuation of opening work-in-progress. The methods are: 1. FIFO Method of Valuation 2. Average Cost Method of Valuation. Valuation of Opening Work-in-Progress: Method # 1. FIFO Method of Valuation: Under this method of valuation it is assumed that units are dealt with on a first-in-first-out basis which […]

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